UK - The 650 million-pound (952.1 billion-euro) pension fund of Lincolnshire County Council has awarded a global custody mandate to J P Morgan Investor Services.
"The overall quality of the service, depth of product offering and the flexibility of the people were among the decisive factors for us," said David Forbes, assistant county treasurer at the county in eastern England.
"J P Morgan has shown the service commitment that we are looking for and their superior client technology provides us with a critical level of support," said David Forbes, Assistant County Treasurer of Lincolnshire County Council.
The bank said Lincolnshire conducted its own custody review and received eight tenders, shortlisting two finalists.
"We are very pleased with this appointment," said Sue Curtis, UK client management executive at J P Morgan. "It is gratifying acknowledgment of our strategic focus on building market share in the UK local government pensions arena."
J P Morgan this week also announced a 20.1 billion-euro custody win from Denmark's PFA Pension.